4 ms·
I work with some amazing folks in Argentina but I was lucky to get them because Exxon was moving all their staff to India. Same with folks from some other empl
by technofiend 9y ago
I work with some amazing folks in Argentina but I was lucky to get them because Exxon was moving all their staff to India. Same with folks from some other employers. There may be a net increase coming but interestingly enough there's pressure to move out of Argentina as well to save costs. Many workers there are unionized and the union's negotiated pay increases linked with Argentina's endemic inflation can create real issues.
As an example if you rent or buy an apartment there it will come with biannual inflation adjustments. Now imagine that the government has decided this year's inflation rate is "only" 20% but your contract says you'll give two 15% increases per year to cover inflation. There are regular protests in Buenos Aires over pay increases and other issues; anyone thinking of hiring there needs to do plenty of research first.
The most aggravating gotcha for me was finding that ATMs limit withdrawls to a small amount but stick you with a large fee for your trouble - it was 92.50 pesos to withdraw 2,000 pesos. Almost 5% ATM surcharge and the locals prefer dollars to pesos anyway. It's no wonder there are people wandering around yelling "Cambio! Cambio! Cambio!" offering to sell ARG for USD.
- petecox 9y agoJust curious, has the situation improved in real terms in the 2 years since Macri took over? I visited a couple of times in 2010-11 and the inflation over a 16 month period was evident. Wonderful, friendly, people but concerning economic stability I'd be more inclined to set up a business in Chile, or perhaps across the river in Montevideo (although the cost of Uruguayan living seemed relatively more expensive.)